Dogecoin (DOGE) Price: Short Squeeze Sends DOGE Flying Toward $0.10 - Can It Finally Break Through?

TLDR

• Dogecoin jumped 4.87% in 24 hours to $0.0902, driven by a short squeeze in the derivatives market.
• DOGE open interest surged 8.5% in one hour to $282 million as short positions were forcibly liquidated.
• Price broke above the 200-day moving average, with $0.10 now acting as the key resistance level.
• Crypto analyst Ali identified a bullish flag breakout projecting a move toward $0.12.
• Key support sits at $0.0813, with the U.S. CPI report on September 11 the next major market catalyst.

Dogecoin has pushed back toward the psychologically important $0.10 level after a derivatives-driven rally sent DOGE up 4.87% in 24 hours to $0.0902. The move came as leveraged short positions were forcibly liquidated, sharply outpacing Bitcoin’s 0.38% gain and the broader crypto market’s 0.87% rise over the same period.

The immediate trigger was a spike in DOGE open interest, which jumped 8.5% within a single hour to reach $282 million. That rapid rise pointed to a short squeeze, where traders betting against DOGE were forced to buy back their positions, pushing the price higher.

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